Time Inc. (TIME) Lowered to Hold at Gabelli
Several other equities analysts also recently issued reports on TIME. Zacks Investment Research downgraded shares of Time from a hold rating to a sell rating in a report on Thursday, July 20th. BidaskClub downgraded shares of Time from a hold rating to a sell rating in a report on Thursday, July 27th. Finally, ValuEngine upgraded shares of Time from a hold rating to a buy rating in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $12.80.
Time (NYSE TIME) traded up $0.20 on Friday, hitting $16.40. 2,933,246 shares of the stock traded hands, compared to its average volume of 1,283,096. Time has a 12-month low of $9.90 and a 12-month high of $20.40. The company has a current ratio of 0.96, a quick ratio of 0.93 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $1,610.00, a P/E ratio of 11.79, a P/E/G ratio of 2.39 and a beta of 0.67.
Time (NYSE:TIME) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.08. Time had a negative net margin of 0.10% and a positive return on equity of 7.53%. The firm had revenue of $679.00 million for the quarter, compared to the consensus estimate of $693.65 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was down 9.5% compared to the same quarter last year. research analysts expect that Time will post 1.05 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.16 annualized dividend and a yield of 0.98%. Time’s dividend payout ratio (DPR) is presently -800.00%.
A number of large investors have recently modified their holdings of TIME. BlackRock Inc. increased its holdings in Time by 16.0% in the 2nd quarter. BlackRock Inc. now owns 12,279,219 shares of the company’s stock worth $176,209,000 after buying an additional 1,696,311 shares during the period. Dimensional Fund Advisors LP increased its holdings in Time by 21.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,001,965 shares of the company’s stock worth $86,128,000 after buying an additional 1,078,946 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in Time by 200.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 1,200,000 shares of the company’s stock worth $17,220,000 after buying an additional 800,000 shares during the period. Fairpointe Capital LLC increased its holdings in Time by 7.9% in the 2nd quarter. Fairpointe Capital LLC now owns 10,582,963 shares of the company’s stock worth $151,866,000 after buying an additional 779,303 shares during the period. Finally, Thrivent Financial For Lutherans increased its holdings in Time by 22.9% in the 2nd quarter. Thrivent Financial For Lutherans now owns 3,315,419 shares of the company’s stock worth $47,576,000 after buying an additional 618,650 shares during the period. Institutional investors own 88.84% of the company’s stock.
Time Company Profile
Time Inc is a media and content company. The Company offers a portfolio of news and lifestyle brands across a range of interest areas. As of December 31, 2016, the Company’s brands included People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living, Entertainment Weekly, Food & Wine, Travel + Leisure and Essence, as well as approximately 50 titles in the United Kingdom.
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